Mattel, Alibaba Form Strategic Partnership - Quick Facts

(RTTNews) - Toy maker Mattel, Inc. (MAT) announced a new strategic partnership with e-commerce giant Alibaba Group Holding Ltd. (BABA).

The partnership will leverage Mattel's iconic brands and expertise in play as well as Alibaba's wealth of data and insights into the Chinese consumer base. It aims to re-shape the way parents in China think about play.

With more than 440 million active buyers across its e-commerce platforms, Alibaba will help Mattel meet the ever-growing and changing needs of Chinese consumers with a strategic omni-channel approach spanning online-to-offline.

As part of the expanded collaboration, Mattel will market and sell to China via Alibaba's B2C marketplace Tmall.com, as well as leverage the company's media ecosystem to develop and promote learning resources and educational content - inspired by Mattel's beloved brands and characters - to help parents and families get the most out of play.

Additionally, Mattel will work with Alibaba's A.I. Lab to develop new and innovative products, designed to aid child development through the use of cutting-edge technology and smart, interactive learning.

Mattel and Alibaba will begin product development immediately, with initial availability planned for mid-2017.